Peab to build shopping centre and flats in Karlstad

Peab to build a shopping centre and flats in Karlstad Peab has been contracted to build a new shopping centre, in the centre of Karlstad. The client is Mitt i City i Karlstads Fastighets AB, a constellation of partners and investors from Värmland. The building will be constructed in three stages above ground, with 16 000 square metres shop premises and an underground car park in two stages dimensioned for 385 parking places. It is a turnkey contract estimated to be finished during the autumn 2006. On top of the shopping centre, Peab will build 80 new tenant-owner flats. These can be built backed up by the new rules concerning three- dimensional reel-estate formation. The production of the flats will begin in stages during the autumn 2005. Peab's contract amounts approximately SEK 400 million, representing around the half part of the total investment. For further information contact: Nils Staffansson, region manager Peab +46 54 85 20 40 Gösta Sjöström, information manager Peab +46 733 37 10 10 Previous press releases from Peab are available at ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

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Peab is a leading Nordic construction and civil engineering company with about 14,000 employees and about SEK 54 billion in net sales. The Group has strategically placed offices in Sweden, Norway and Finland. Company headquarters are in Förslöv on Bjäre Peninsula in southern Sweden. The Peab share is listed on NASDAQ Stockholm.